Would cut down on a bit of the sound, but also keep the engine from heating up the air going through it too much. More of a functional gain than anything.
I've always had the thought that the temperature of the pipe wasn't all that important, but the temperature of where the air is being drawn from is vital. The air will pass through the intake pipe very rapidly....so it won't have time to transfer heat from the pipe to the incoming air charge. Since the air charge is always moving (basically) it won't have time to heat up even if the pipe was several hundred degrees....